Wednesday 28 September 2016
 
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Quilter Cheviot opens office in Dubai

Discretionary investment management company Quilter Cheviot, part of Old Mutual Wealth, which can trace its heritage back to 1771, has been granted approval to open a new representative office in the Dubai International Financial Centre (DIFC) u

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Richest 62 people own same as half world's population

The wealthiest 62 people now own as much as half the world's population, some 3.5 billion people, as the super-rich have grown richer and the poor poorer, an international charity said on Monday. The wealth of the richest 62 p

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Saudi Arabia plans new sovereign wealth fund

Saudi Arabia plans to create a new sovereign fund to manage part of its oil wealth and diversify its investments, and has asked investment banks and consultancies to submit proposals for the project, according to people familiar with the matte

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RakBank unveils new wealth management offering

RakBank has launched the RAKelite Premium Banking, offering high net worth customers a more customised banking experience with enhanced lifestyle benefits and multiple privileges.   RAKelite is the bank’s l

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Global household wealth 'to grow slower'

Global household wealth will grow at 6.6 per cent annually, slower than the 7 per cent estimated earlier, as the overall economic outlook remains weak, Credit Suisse said. Global household wealth is now expected to rise to $345 tr

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Ultra rich in Mideast control $995bn wealth

There are nearly 6,000 ultra high net worth (UHNW) individuals in the Middle East with a combined net worth of $995 billion, according to a Wealth-X study. Saudi Arabia has the largest UHNW population

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Harvard tops with most UHNW alumni population

With 3,130 ultra wealthy individuals among its alumni, Harvard University leads the world’s schools in a Wealth-X ranking of universities with the largest ultra high net worth (UHNW) alumni population.   

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Islamic asset managers 'need to boost services'

Almost 70 per cent of Middle Eastern wealth is transferred overseas, an expert has warned. To attract this wealth, Islamic asset managers need to compete with institutions overseas by providing both attractive yields and a superio

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Takaud targets $1bn wealth management portfolio

Bahrain-based savings and pensions provider Takaud has launched a wealth management platform targeting a portfolio of more than $1 billion in three years. The company's chief executive Luc Metivier told a press conference at t

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Apollo plans to expand into Mideast

Apollo Global Management is in talks to expand its business into the Middle East for the first time through a joint venture with a local investment firm, three sources aware of the matter told Reuters on Wednesday. The move is the

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